Belmont, known as the “father of American racing” and builder of the New York elevated and subway lines, who died Wednesday at the age of seventy-one, was of Jewish origin. He was born in New York City in February 18, 1853. His parents were the late August Belmont and Caroline Slidell. August Belmont, Sr. was a native of Alzey, in Rhenish Essen, where the family was known under the name of Schoenberg. He came to America in 1844 as Consul General for the Austrian Government, a post which he held until 1850. Three years later he was appointed American Charge d’Affaires at The Hague.
He soon left his official position to engage in banking and became one of the most powerful factors in international finance, acting as the American representative of the Rothschilds for many years.